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VA Home Loan

Eligible servicemembers and veterans can take advantage of some of the many VA Home Loan benefits such as:

Today's VA Home Loan Rates

For a rate quote, please call a PennyMac Loan Officer at (866) 549-3583.

What is a VA Home Loan?

For U.S. servicemembers and veterans, it can sometimes be difficult to establish the level of credit necessary to qualify for a home loan. To make homeownership more attainable for servicemembers and veterans, the Department of Veterans Affairs established the VA Home Loan, which guarantees a portion of the loan and enables us to provide you with more favorable loan terms. This guarantee allows lenders like PennyMac to offer home loans to servicemembers and veterans who may otherwise not be able to qualify for a conventional loan. To date, the VA Home Loan program has helped over 20 million servicemembers and veterans buy a home, since WWII.

Mortgage Type

Benefits

Mortgage Type

VA Purchase Loan

If you are on active duty or retired from the military and in the market for a new home, you should call PennyMac to learn how you could save money with a VA Home Loan.

Already in a home? Consider refinancing into a VA IRRRL (Interest Rate Reduction Refinance Loan) also called the Streamline Refinance Loan. The VA IRRRL lowers your interest rate by refinancing your existing VA home loan. By obtaining a lower interest rate, your monthly mortgage payment should decrease. You can also often refinance an adjustable rate mortgage (ARM) into a fixed rate mortgage.

Closing costs can be rolled into the cost of the loan—no out of pocket expenses.

Mortgage Type

VA Cash-Out Refinance

The VA's Cash-Out Refinance Loan is for homeowners who want to take cash out of their home equity to take care of concerns like paying off debt, funding school or making home improvements. As home values continue to rise across the country and interest rates remain relatively low, now may be a great time to consider a VA Cash-Out refinance.

The Cash-Out Refinance Loan can also be used to refinance a non-VA loan into a VA loan.

PennyMac will lend up to 100% of the value of your home*

*Loan limits are established by the VA and can vary by county.

*By refinancing your existing loan, your total finance charges may be higher over the life of the loan.

Am I Eligible for a VA Home Loan?

Active or former service members with the following terms of service today may be eligible* for a VA Home Loan:

181 days of service during peacetime (active duty)

90 days of service during wartime (active duty)

Six years of service in the Reserves or National Guard

Some surviving spouses (spouse passed away due to service-related complications)

*You will also need to meet all VA and lender credit, income, and employment requirements.

How Does PennyMac Support Our Veterans?

PennyMac understands that our people are essential to continuing our growth and leadership in the mortgage finance industry.

That's why we have worked with Veterans groups such as DAV/RecruitMilitary to help us actively recruit America's highest quality talent. Allowing them to continue developing their skills and expand their experience in a customer-centric environment that emphasizes high ethical standards, open communication and excellence.

Why Should I Choose PennyMac?

PennyMac proudly supports and is pleased to offer VA loan products designed to help our servicemembers and veterans achieve homeownership. We currently service over 100,000 servicemembers and veterans who have taken advantage of the federal government's VA Home Loan program to buy or refinance a home.

As one of the largest direct lenders and servicers in the country, PennyMac Loan Services, LLC specializes in VA home loans. We are committed to offering our servicemembers and veterans great rates on VA home loans.

Arizona Mortgage Banker License # 0911088. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. Colorado: Regulated by the Division of Real Estate. Colorado office: 700 17th St, Suite 200, Denver, CO 80202, (866) 436-4766. Georgia Residential Mortgage Licensee #33027. Illinois Residential Mortgage Licensee # MB.6760595. Massachusetts Mortgage Lender License # ML35953. Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. §47.206 (3) & (4). Licensed by the N.J. Department of Banking and Insurance. North Carolina Permit No. 104753, 112228, 112874, 112877. Rhode Island Lender License # 20092600LL. Washington Consumer Loan License # CL-35953. Loans made or arranged pursuant to a California Financing Law license. For more information, review PennyMac's state licenses and important notices. Loans not available in New York. Some products may not be available in all states. Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. All loan programs subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other restrictions apply. All rights reserved. (08-2018)